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american tower corp (TWRA) Details

American Tower Corporation is a real estate investment trust. It invests in the real estate markets across the globe. The firm through its subsidiaries owns, operates and develops wireless and broadcast communications real estate. Through its subsidiaries it leases antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. American Tower Corporation was founded in 1995 and is headquartered in Boston, Massachusetts.

american tower corp (TWRA) Key Developments

American Tower Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

Feb 23 15

American Tower Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported total operating revenues of USD 1,046.314 million compared to USD 941.969 million a year ago. Operating income was USD 345.979 million compared to USD 292.928 million a year ago. Income from continuing operations before income taxes was USD 194.225 million compared to USD 110.105 million a year ago. Net income attributable to the common shareholders of the company was USD 168.574 million compared to USD 99.982 million a year ago. Diluted net income per share was USD 0.42 compared to USD 0.25 a year ago. Adjusted EBITDA was USD 661.264 million compared to USD 600.137 million a year ago. Adjusted funds from operations (AFFO) were USD 441.684 million or USD 1.10 per share against USD 378.166 million or USD 0.95 per share a year ago. During the fourth quarter of 2014, total capital expenditures were USD 251 million.
For the year, the company reported total operating revenues of USD 4,100.048 million compared to USD 3,361.407 million a year ago. Operating income was USD 1,486.922 million compared to USD 1,214.305 million a year ago. Income from continuing operations before income taxes was USD 865.704 million compared to USD 541.749 million a year ago. Net income attributable to the common shareholders of the company was USD 801.022 million compared to USD 551.333 million a year ago. Diluted net income per share was USD 2.00 compared to USD 1.38 a year ago. Cash provided by operating activities was USD 2,134.589 million compared to USD 1,599.047 million a year ago. Payments for purchase of property and equipment and construction activities was USD 974.404 million compared to USD 724.532 million a year ago. Adjusted EBITDA was USD 2,649.941 million compared to USD 2,176.362 million a year ago. Adjusted funds from operations (AFFO) were USD 1,814.706 million or USD 4.54 per share against USD 1,469.518 million or USD 3.68 per share a year ago. During the twelve months ended December 31, 2014, total capital expenditures were USD 974 million.
For the year 2015, the company expects total rental and management revenue to be between USD 4,250 million to USD 4,330 million, adjusted EBITDA between USD 2,820 million to USD 2,900 million, adjusted funds from operations between USD 1,940 to USD 2,000 million, net income between USD 945 million to USD 995 million. The company expects capital expenditure to be between USD 800 million to USD 900 million.

American Tower Corp. announced that it completed its previously announced redemption of all of its outstanding 4.625% senior unsecured notes due 2015. The company redeemed the notes at 100.5898% of the principal amount, plus accrued and unpaid interest up to, but excluding, Feb. 11. The total aggregate redemption price was approximately $613.6 million, including approximately $10.0 million in accrued interest. American Tower said it financed the redemption with borrowings under its credit facilities. Upon completion of the redemption, none of the 4.625% notes remained outstanding.

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